ON (NYSE:ONON) Earns “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of ON (NYSE:ONON) in a research report released on Wednesday, Benzinga reports. They currently have a $37.00 price target on the stock.

ONON has been the subject of a number of other research reports. Redburn Atlantic reaffirmed a neutral rating and issued a $34.00 target price on shares of ON in a research report on Thursday, March 7th. Evercore ISI cut their target price on shares of ON from $40.00 to $37.00 and set an outperform rating for the company in a research report on Wednesday, March 13th. Morgan Stanley reaffirmed an overweight rating and issued a $32.00 target price on shares of ON in a research report on Monday, April 22nd. Stifel Nicolaus reaffirmed a buy rating and issued a $40.00 target price on shares of ON in a research report on Tuesday, March 5th. Finally, William Blair started coverage on shares of ON in a research report on Tuesday, April 16th. They issued an outperform rating for the company. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, ON presently has an average rating of Moderate Buy and an average price target of $37.13.

ON Stock Up 2.7 %

Shares of NYSE ONON opened at $32.79 on Wednesday. ON has a twelve month low of $23.41 and a twelve month high of $37.08. The firm has a market cap of $20.65 billion, a P/E ratio of 121.44, a PEG ratio of 1.12 and a beta of 2.16. The company has a 50 day moving average of $33.19 and a 200 day moving average of $29.59.

ON (NYSE:ONON) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.18). ON had a return on equity of 6.85% and a net margin of 4.04%. The firm had revenue of $504.69 million during the quarter, compared to analysts’ expectations of $515.30 million. As a group, equities analysts expect that ON will post 0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Spire Wealth Management boosted its holdings in ON by 91.0% in the 3rd quarter. Spire Wealth Management now owns 972 shares of the company’s stock worth $27,000 after buying an additional 463 shares during the period. Orion Capital Management LLC lifted its stake in ON by 1,100.0% in the 4th quarter. Orion Capital Management LLC now owns 1,200 shares of the company’s stock worth $32,000 after purchasing an additional 1,100 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new stake in ON in the 4th quarter worth $32,000. Global Wealth Management Investment Advisory Inc. purchased a new stake in ON in the 4th quarter worth $33,000. Finally, Asset Dedication LLC purchased a new stake in ON in the 3rd quarter worth $35,000. Institutional investors own 33.11% of the company’s stock.

About ON

On Holding AG engages in the development and distribution of sports products worldwide. The company offers athletic footwear, apparel, and accessories for high-performance running, outdoor, training, all-day activities, and tennis. It offers its products through independent retailers and distributors, online, and stores.